Oil technical analysis: WTI is under pressure below $54.30 a barrel

  • WTI remains under selling pressure.
  • 53.00 and 52.00 can be targets to the downside.  

Oil daily chart

WTI (West Texas Intermediate) is under bearish pressure below $55.00 a barrel and its main simple moving averages (SMAs).

Oil 4-hour chart

WTI is trading below the main SMAs suggesting a bearish bias. The path of least resistance is to the downside and sellers can push the market towards 53.00 and 52.00 figure. Resistance is seen at 54.30 and 55.00 level. 

Additional key levels


Today last price 53.63
Today Daily Change 0.05
Today Daily Change % 0.09
Today daily open 53.58
Daily SMA20 58.03
Daily SMA50 61.26
Daily SMA100 58.83
Daily SMA200 59.19
Previous Daily High 54.94
Previous Daily Low 53.19
Previous Weekly High 54.68
Previous Weekly Low 50.72
Previous Monthly High 63.97
Previous Monthly Low 53.13
Daily Fibonacci 38.2% 53.86
Daily Fibonacci 61.8% 54.27
Daily Pivot Point S1 52.87
Daily Pivot Point S2 52.15
Daily Pivot Point S3 51.12
Daily Pivot Point R1 54.62
Daily Pivot Point R2 55.65
Daily Pivot Point R3 56.37



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